Emerging Vs. Disruptive: Which Market is Your Technology?
Correctly identifying which market your technology lies in is integral to the sales & marketing program of any firm, however special attention is required for firms with emerging and disruptive technologies where the risk of failure is high.
We live in an ever-evolving world of technology – the landscape has changed dramatically, even in the past several years. Now more than ever, in this ever evolving competitive landscape its necessary for technology firms to remain relevant, innovative, and continue to capture new business while continuing to harvesting revenue from existing streams.
By definition, Emerging Technologies are those that are in development, or being developed in the next five to ten years, that are expected to substantially alter the status quo and create a competitive advantage. These technologies combine novelty, fast growth, and prominent impact with a degree of uncertainty.
In “What is an Emerging Technology,” Rotolo, Hicks, and Martin defined an Emerging Technology as “a radically novel and relatively fast growing technology characterized by a certain degree of coherence persisting over time and with the potential to exert a considerable impact on the socio-economic domain(s) which is observed in terms of the composition of actors, institutions and patterns of interactions among those, along with the associated knowledge production processes. Its most prominent impact, however, lies in the future and so in the emergence phase is still somewhat uncertain and ambiguous.” These technologies include information technology, robotics, artificial intelligence, and educational technology.
On the other hand, a Disruptive Technology is a term coined by Harvard Business School professor Clayton M. Christensen to describe a technology that brings a very different value proposition to the market. It may stir up an existing industry and/or create a new industry either by improving/changing a product that displaces an existing technology or creating a revolutionary product.
Examples include cell phones, which disrupted and forever changed the telcom industry, personal computers which created a new industry that was then disrupted by laptops, and then again by tablets, and e-mail which disrupted the postal industry and changed the way that people communicate.
Firm’s in both spaces need specialized services. Quintana Advisory Corp. provides an array of management consulting services for technology firms. With over 15 years of experience in demanding global environments, Mr. Quintana’s areas of expertise include identifying emerging technologies, and providing them with strategic roadmaps with funding sources. He also provides executable strategic market penetration plans with emphasis on profitable growth, in-depth market analysis, and teaming agreements.